As seen in the September 2022 issue of MM+M magazine.
Tap into the power of prescriptive analytics.
Would you prefer to predict that a physician will write a prescription or to actually get the script written? By evolving your use of data, you can take control of the demand curve and fuel the connection between your brand and customer experiences. This is the power of prescriptive analytics.
Back in the day, healthcare marketers all loved predictive analytics. We proudly presented models to marketing teams showing them which healthcare providers would likely be first to write scripts for the newest drugs.Ten years ago, this was cutting edge. Now it’s table stakes. Today, we can embrace the power of technology and data to create a seamless brand and customer experience that impacts business results. Prescriptively.
Fueled by COVID, the shift to prescriptive analytics happened fast because healthcare marketers needed to meet new demands from key stakeholders. Trends that began years ago, the pandemic accelerated and normalized: telemedicine, hyper-informed patients, remote sales reps, and physicians eager and able to get clinical input from sources other than a rep or an advisory board.
Our customers have transformed and, as an industry, we have not kept up. The roles have changed, the connection has changed, and the whole ecosystem has pivoted.
With disruption comes opportunity —and urgency.
Years ago, our only option was to rely on lagging indicators like prescription data or sales rep interaction for insights. Today, we can correlate data that tells us about the health of the brand’s relationship to healthcare professionals and patients. And we can understand the impact of those interactions on prescription writing and medical device utilization.
We not only have data from our legacy sales systems, but also from an immersive digital world —social, CRM, digital media and more — allowing a 360-degree view of sales and marketing engagement aligned to stakeholder behaviors.
Adapt, Act and Accelerate Results
We can change the way we use data to connect your brand and customer experience and create better relationships that lead to demand. For example, patients have more influence than ever, and data can tell us how to better inform, educate and intercept them.
Done right, prescriptive analytics creates market advantage and market demand, which translates to accelerated action: faster adoption curves for a new drug, quicker generation of the first prescription, and deeper customer engagement and loyalty.
By analyzing, sorting, learning from and acting on a new world of data, prescriptive analytics allows patients, payors, providers and professionals to get the results most important to them as quickly as possible. It makes the relationship seamless and intuitive.
Marketing Must Drive
Embracing prescriptive analytics is not complicated and it’s not a technology solution.It’s a marketing one. Data is the fuel, not the engine. It’s what marketers have wanted for years, and now it’s mandatory to optimize your market position. Overcomplicating it will put you further behind your competitors and your customers.
You have the data, the systems and the content. You have a smart IT team to build models. The key is to break it down and go.
Using prescriptive analytics is a game changer and creates impact fast. For our clients, this is happening now.